G7 Critical Minerals Action Plan Français
KANANASKIS, AB, June 17, 2025 /CNW/ - We, the Leaders of the G7, recognize that critical minerals are the building blocks of digital and energy secure economies of the future. We remain committed to transparency, diversification, security, sustainable mining practices, trustworthiness and reliability as essential principles for resilient critical minerals supply chains, and acknowledge the importance of traceability, trade, and decent work in contributing to our economic prosperity and that of our partners.
We have shared national and economic security interests, which depend on access to resilient critical minerals supply chains governed by market principles. We recognize that non-market policies and practices in the critical minerals sector threaten our ability to acquire many critical minerals, including the rare earth elements needed for magnets, that are vital for industrial production. Recognizing this threat to our economies, as well as various other risks to the resilience of our critical minerals supply chains, we will work together and with partners beyond the G7 to swiftly protect our economic and national security. This will include anticipating critical minerals shortages, coordinating responses to deliberate market disruption, and diversifying and onshoring, where possible, mining, processing, manufacturing, and recycling.
We are launching a G7 Critical Minerals Action Plan, building on the Five-Point Plan for Critical Minerals Security established during Japan's G7 Presidency in 2023 and advanced by Italy in 2024. The Action Plan will focus on diversifying the responsible production and supply of critical minerals, encouraging investments in critical mineral projects and local value creation, and promoting innovation.
We are committed to action in the following areas:
Building standards-based markets
We recognize that critical minerals markets should reflect the real costs of responsible extraction, processing, and trade of critical minerals, while ensuring labour standards, local consultation, anti-bribery and corruption measures and addressing negative externalities, including pollution and land degradation.
We will develop a roadmap to promote standards-based markets for critical minerals, in collaboration with industry, international organizations, resource producing nations, Indigenous Peoples, local communities, unions, and civil society. The roadmap will establish a set of criteria that constitute a minimum threshold for standards-based markets, strengthening traceability as a necessary measure. As part of these efforts, we will evaluate potential market impacts.
We task relevant ministers to produce this roadmap, setting out milestones to be met in fulfilling this commitment, before the end of the year.
Mobilizing capital and investing in partnerships
We recognize the need to work together to increase investment in responsible critical minerals projects within the G7 and around the world. Immediate and scaled investment is required to secure future supply chains and ensure promising mining and processing projects overcome barriers such as delays in permitting and approvals processes, market manipulation, and price volatility.
Critical minerals are an opportunity to build mutually beneficial partnerships and drive economic development, innovation and shared prosperity. We will continue to work with emerging market and developing country partners to develop quality infrastructure, such as economic corridors. We will address investment barriers and support policy and regulatory reforms that improve the investment climate of our partners and empower entrepreneurs in low- and middle-income countries, including through the G20 Compact with Africa. Our approach will support local economic growth, build community trust, and reduce investment risks, creating the necessary conditions to attract responsible private capital.
We will continue to support the development of responsible critical minerals projects through direct partnerships with each other and by promoting private sector investment. We encourage our export credit agencies and development finance institutions (DFIs) to identify more opportunities for collaboration. We also welcome the work of the G7 DFIs to enhance coordination on critical minerals projects as an important step.
To build on this momentum, we encourage multilateral development banks, as well as private sector lenders, to make further capital available for investment in standards-based critical minerals projects, including through innovative financing. We also encourage them to leverage existing financing mechanisms to de-risk projects, maximize and mobilize private capital, and increase the resilience and security of global critical minerals supply chains.
We are committed to deepening our cooperation with mineral-rich emerging market and developing country partners. We will help build their capacity; foster local value creation; create opportunities for all; promote responsible mining practices; combat gender-based violence in the mining industry; support the improvement of artisanal mining; and diversify global critical minerals value chains.
In this spirit, to promote responsible mining-related activities in emerging mining nations, we welcome the G7 Finance Ministers commitment to strengthen the World Bank-led Resilient and Inclusive Supply Chain Enhancement (RISE) Partnership. Interested G7 members will also support initiatives such as the Minerals Security Partnership and its MSP Forum, and the Intergovernmental Forum on Mining, Minerals, Metals and Sustainable Development.
Recalling our commitment to promote debt sustainability and transparency, we acknowledge the challenges faced by developing countries with mounting debt levels, including to finance infrastructure. We will promote debt sustainability through transparent and fair development finance, and we will support countries facing debt challenges including near-term liquidity challenges. We call on all international providers of finance to do the same. This includes working within the G20 to improve the implementation of the Common Framework.
Promoting innovation
We have rich public and private innovation ecosystems with untapped potential to address strategic technology and processing gaps essential to bringing critical minerals to market.
We will intensify our collaboration to fill targeted innovation gaps in critical minerals research and development, with a focus on processing, licensing, recycling, substitution and redesign, and circular economy. We will work with partner organizations to showcase new technologies and production processes.
We look forward to the upcoming Conference on Critical Materials and Minerals, to be chaired by the United States in Chicago, in September 2025, in order to advance this work.
Australia, India, and the Republic of Korea.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Cision Canada
an hour ago
- Cision Canada
Lundin Mining Highlights Strategic Vision and Financial Outlook for Leading Growth and Shareholder Returns
VANCOUVER, BC, June 17, 2025 /CNW/ - (TSX: LUN) (Nasdaq Stockholm: LUMI) Lundin Mining Corporation ("Lundin Mining" or the "Company") will host a Capital Markets Day on June 18, 2025 to outline the Company's strategic aspirations to become a global top-ten copper producer and achieve copper production of over 500,000 tonnes per year and gold production of over 550,000 ounces ("oz") per year. The Company will present on multiple initiatives identified to date that are expected to support its strategic vision, including growth initiatives at its operations, as well as the development of the Vicuña district, which is recognized as one of the world's largest copper, gold and silver Mineral Resources (see Lundin Mining's News Release dated May 4, 2025). Unless otherwise stated, dollar amounts are presented in United States dollars on a 100% basis. View PDF View PDF Jack Lundin, President and CEO commented, "Lundin Mining is entering an exciting new growth phase, underpinned by a clear path to increase copper production through low-cost brownfield expansions at Candelaria, Caserones, and Chapada. These projects are expected to deliver meaningful production gains over the next three to five years. Across all our operations, we see significant exploration upside, including promising opportunities at Eagle that could meaningfully extend the life of mine. In parallel, our Vicuña Project offers transformational long-term growth potential. Backed by a significantly strengthened balance sheet, reduced cash costs, robust free cash flow generation, and a best-in-class team, we are well-positioned to continue returning capital to shareholders while advancing our ambition of becoming a top-ten global copper producer." Growth Initiatives The Company has outlined medium-term brownfield expansion opportunities over the next three to five years to grow copper production by 30,000 – 40,000 tonnes per year through low capital intensity projects, including those at Candelaria, Caserones and Chapada described below. Candelaria: Management has reworked the previously envisioned Candelaria Underground Expansion Project (CUGEP) to a lower capital-intensive option with only marginally lower production rates. The expansion opportunity includes the insourcing of Lundin Mining's underground mining contract, which is anticipated to provide incremental copper production gains from higher productivity rates through better mechanical availability and higher development rates. Through initiatives identified, underground throughput capacity could increase by 50% to 60% (to ~22,000 tonnes per day) from current levels (12,000 to 14,000 tonnes per day). The Company forecasts that this could increase annual copper production at Candelaria by approximately 10% or 14,000 tonnes of copper per year at a low cost of capital. Caserones: While leaching improvements have incrementally increased cathode production over recent quarters, the cathode plant remains underutilized. The Company forecasts that through continued improvements with its leaching practices and additional oxide material, incremental future production can be realized in the range of 7,000 – 10,000 tonnes of copper per year. Chapada: Internal scoping studies for the Saúva project have identified the potential to add approximately 15,000 to 20,000 tonnes of copper production per year and 50,000 to 60,000 ounces of gold production per year, representing 50% and 100% production increases at Chapada for copper and gold respectively. This brownfield project is ~15 km from the Chapada mine and is undergoing a prefeasibility study, which is expected to be completed by the end of the year. Eagle: Exploration is underway at the Boulderdash project where Lundin Mining has entered into exclusivity for a 70% earn-in agreement with Talon Metals Corp. (see Lundin Mining's News Release dated March 5, 2025). The Boulderdash exploration properties are adjacent to the Company's Eagle mine. Exploration success at Boulderdash could meaningfully extend the life of mine at Eagle. In addition to the growth initiatives at its operations, Lundin Mining holds a 50% interest in the Vicuña Project (comprised of the Filo del Sol and Josemaria deposits), which has the potential to transform the Company's copper, gold and silver production profile. Vicu ña Project: The recently published Mineral Resource estimate for the Vicuña Project highlights one of the world's largest copper, gold and silver Mineral Resources, with the potential to support a globally ranked mining complex. The Company continues to advance the integrated study of Filo del Sol and Josemaria, which is expected to be completed in Q1 2026. The integrated study will outline a development concept for the combined project, including a production profile and capital estimate. Financial Outlook The Company continues to return capital to investors targeting an annual distribution of $220 million through a combination of regular dividends and share buybacks. The Company's 2025 production guidance remains unchanged and, based on the mid-point of the production guidance and on the Company's forecast copper price of $4.40/lb copper, revenue for 2025 is forecast to be approximately $3.7 billion with adjusted operating cash flow 1 of $1.3 billion and adjusted free cash flow from operations 2 of $800 million. The Company is also providing guidance on its financial performance over the next five years, from 2025 to 2029 with forecast cumulative earnings before interest, taxes, depreciation and amortization (EBITDA) 1 of $8.1 billion, adjusted operating cash flow 1 of $6.5 billion and adjusted free cash flow from operations 2 of $4.9 billion. 3 Lundin Mining will host a Capital Markets Day on Wednesday, June 18, 2025, from 8:00 am to 12:00 pm ET. The event can be viewed as follows: Webcast / Conference Call Details: Date: Wednesday, June 18, 2025 Time: 8:00 AM ET | 1:00 PM BST Webcast: WEBCAST LINK or An archive of the webcast will be available at after the event. 2025 Guidance Updates In addition, the Company is providing an update on its cash cost and capital expenditures guidance. The Company remains on track to meet annual consolidated production guidance for copper, gold and nickel. Total consolidated copper production for the two months April and May 2025 was 53,000 tonnes and year to date to the end of May 2025 is 129,800 tonnes. Cash cost guidance at Chapada has been reduced as cash costs continue to benefit from increased realized prices on by-product gold sales and weaker local currency while the cash cost guidance for the other assets remains unchanged. As a result, the consolidated cash cost 4 guidance is being reduced from $2.05 - $2.30/lb to $1.95 - $2.15/lb copper. Annual sustaining capital expenditure 5 guidance has remained at $530 million with reductions at Caserones due to rescheduled projects, being offset by higher capital expenditure on tailings at Chapada. Expenditure guidance related to expansionary capital 5 has increased from $205 million to $265 million, primarily driven by an increase in the Vicuña Project budget. 2025 Production and Cash Cost Guidance a. Guidance as outlined in the news release "Lundin Mining Announces Record Production Results for 2024 and Provides 2025 Guidance" dated January 16, 2025. Please refer to the January 16, 2025 news release for related assumptions and estimates. b. Cash cost is a non-GAAP measure. For equivalent historical non-GAAP measure comparatives, see the Historical Non-GAAP Measure Comparatives section of this press release. Please also see the Management's Discussion and Analysis for the year ended December 31, 2024, and the three months ended March 31, 2025. c. 2025 revised projected cash costs are based on various assumptions and estimates, including but not limited to: production volumes, commodity prices (Cu: $4.40/lb, Au: $3,000/oz, Mo: $20.00/lb, Ag: $30.00/oz), foreign exchange rates (USD/CLP:950, USD/BRL:5.50) and operating costs. d. Chapada's cash cost is calculated on a by-product basis and does not include the effects of its copper stream agreements. Effects of the copper stream agreements are reflected in copper revenue and will impact realized price per pound. e. 68% of Candelaria's total gold and silver production are subject to a streaming agreement. Cash costs are calculated based on receipt of approximately $433/oz gold and $4.32/oz silver. 2025 Capital Expenditure Guidance b,c a. Guidance as outlined in the news release "Lundin Mining Announces Record Production Results for 2024 and Provides 2025 Guidance" dated January 16, 2025. Please refer to the January 16, 2025 news release for related assumptions and estimates. b. Sustaining capital expenditure is a supplementary financial measure, and expansionary capital expenditure is a non-GAAP measure. For more information and historical comparatives, see the Historical Non-GAAP Measure Comparatives section of this press release. Please also see the Management's Discussion and Analysis for the year ended December 31, 2024 and three months ended March 31, 2025 for discussion of non-GAAP measures. c. Capital expenditures are based on various assumptions and estimates, including, but not limited to foreign currency exchange rates (2025 - CLP/USD:950, USD/BRL:5.50) Qualified Persons The scientific and technical information in this press release has been prepared in accordance with the disclosure standards of National Instrument 43-101 ("NI 43-101") and has been reviewed and approved by Eduardo Cortés, Registered Member (Comisión Calificadora de Competencias en Recursos y Reservas Mineras (Chilean Mining Commission)), Vice President, Mining & Resources at Lundin Mining, who is a "Qualified Person" under NI 43-101. Mr. Cortés has verified the data disclosed in this release and no limitations were imposed on his verification process. About Lundin Mining Lundin Mining is a diversified base metals mining company with operations or projects in Argentina, Brazil, Chile, and the United States of America, primarily producing copper, gold and nickel. Historical Non-GAAP Measure Comparatives Cash cost, adjusted operating cash flow, free cash flow from operations, adjusted free cash flow from operations, EBITDA and expansionary capital expenditures are non-GAAP financial measures and sustaining capital expenditures is a supplementary financial measure. These performance measures have no standardized meaning within generally accepted accounting principles under IFRS and, therefore, amounts presented may not be comparable to similar data presented by other mining companies. These amounts are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. Please refer to the section titled "Non-GAAP and Other Performance Measures" in Lundin Mining's Management's Discussion and Analysis for the year ended December 31, 2024 and for the three months ended March 31, 2025, which are incorporated by reference herein and which are available on SEDAR+ at Adjusted free cash flow from operations is a non-GAAP financial measure defined as cash flow provided by operating activities, excluding general exploration and business development costs and deducting sustaining capital expenditures (as separately defined) and non-cash working capital items. Adjusted free cash flow from operations is indicative of the Company's ability to generate cash from its operations after consideration of required sustaining capital expenditure necessary to maintain existing production levels, and removing the impact of working capital, which can experience volatility from period-to-period. Cash Cost – Year Ended December 31, 2024 Operations Candelaria Caserones Chapada Eagle ($thousands, unless otherwise noted) (Cu) (Cu) (Cu) (Ni) Total continuing operations Sales volumes (Contained metal): Tonnes 158,017 113,867 39,615 5,662 Pounds (000s) 348,367 251,033 87,336 12,483 Production costs 1,898,627 Less: Royalties and other (84,501) 1,814,126 Deduct: By-product credits (504,431) Add: Treatment and refining 113,565 Cash cost 603,533 629,582 137,714 52,431 1,423,260 Cash cost per pound ($/lb) 1.73 2.51 1.58 4.20 Adjusted Operating Cash Flow – Year Ended December 31, 2024 Free Cash Flow from Operations and Adjusted Free Cash Flow from Operations – Year Ended December 31, 2024 EBITDA – Year Ended December 31, 2024 ($thousands) Net earnings (loss) — continuing operations 153,354 Add back: Depreciation, depletion and amortization 607,744 Finance costs, net 141,455 Income taxes expense 229,973 EBITDA — continuing operations 1,132,526 Capital Expenditures – Year Ended December 31, 2024 ($ thousands) Sustaining Expansionary Capitalized Interest Total Candelaria 275,720 — — 275,720 Caserones 143,965 — — 143,965 Chapada 107,843 — — 107,843 Eagle 21,222 — — 21,222 Josemaria — 243,566 14,641 258,207 Other 350 — — 350 Continuing Operations 549,100 243,556 14,641 807,307 Capital expenditures are reported on a cash basis, as presented in the consolidated statement of cash flows. Expansionary capital expenditures are non-GAAP measures. See the Management's Discussion and Analysis for the year ended December 31, 2024, for discussion of non-GAAP measures heading "Non-GAAP and Other Performance Measures" which is incorporated by reference herein. Cautionary Statement on Forward-Looking Information Certain of the statements made and information contained herein are "forward-looking information", "future oriented financial information" and "financial outlook" (collectively referred to as "forward-looking information" herein) within the meaning of applicable Canadian securities laws. The purpose of disclosing future oriented financial information and financial outlook is to provide a general overview of management's expectations regarding the anticipated results of operations including earnings and cash generated therefrom and costs thereof and readers are cautioned that future oriented financial information and financial outlook may not be appropriate for other purposes. All statements other than statements of historical facts included in this document constitute forward-looking information, including but not limited to statements regarding the Company's plans, prospects, business strategies and strategic vision and aspirations, and their achievement and timing; the Company's guidance on the timing and amount of future production and its expectations regarding the results of operations; expected financial performance, including expected revenue, costs and expenditures, earnings, cash flows and other financial metrics; the Company's growth initiatives, and the potential costs, outcomes, results and impacts thereof and timing thereof; forecasted metal prices; permitting requirements and timelines; timing and possible outcome of pending litigation; the results of any Preliminary Economic Assessment, Pre-Feasibility Study, Feasibility Study, or Mineral Resource and Mineral Reserve estimations, life of mine estimates, and mine and mine closure plans; anticipated market prices of metals, currency exchange rates and interest rates; the Company's shareholder distribution policy, including with respect to share buybacks and the payment and amount of dividends and the timing thereof; the development and implementation of the Company's Responsible Mining Management System; the Company's ability to comply with contractual and permitting or other regulatory requirements; anticipated exploration and development activities, including potential outcomes, results, impacts and timing thereof; the Company's integration of acquisitions and expansions and any anticipated benefits thereof, including the anticipated project development and other plans and expectations with respect to the Vicuña Project and the 50/50 joint arrangement with BHP; Mineral Resource estimation for the Vicuña Project, including the parameters and assumptions related thereto; the Company's plans, prospects and business strategies; the operation of Vicuña with BHP; the realization of synergies and economies of scale in the Vicuña district; the development and future operation of the Vicuña Project; the timing and expectations for future studies with respect to the Company's operations and projects, including the Vicuña Project and the Saúva Project; the potential for resource expansion; the terms of the contingent payments in respect of the completion of the sale of the Company's European assets and expectations related thereto; the earn-in arrangement in respect of the Boulderdash properties, including the entering into of an option agreement in respect thereof and the terms of such option agreement; future actions taken by Talon Metals Corp. and Lundin Mining in relation to the Boulderdash properties and the outcomes and anticipated benefits thereof; and expectations for other economic, business, and/or competitive factors. Words such as "believe", "expect", "anticipate", "contemplate", "target", "plan", "goal", "aim", "intend", "continue", "budget", "estimate", "may", "will", "can", "could", "should", "schedule" and similar expressions identify forward-looking information. Forward-looking information is necessarily based upon various estimates and assumptions including, without limitation, the expectations and beliefs of management, including that the Company can access financing, appropriate equipment and sufficient labour; assumed and future price of copper, gold, zinc, nickel and other metals; anticipated costs; currency exchange rates and interest rates; ability to achieve goals; the prompt and effective integration of acquisitions and the realization of synergies and economies of scale in connection therewith; that the political, economic, permitting and legal environment in which the Company operates will continue to support the development and operation of mining projects; timing and receipt of governmental, regulatory and third party approvals, consents, licenses and permits and their renewals; positive relations with local groups; the accuracy of Mineral Resource and Mineral Reserve estimates and related information, analyses and interpretations; and such other assumptions as set out herein as well as those related to the factors set forth below. While these factors and assumptions are considered reasonable by Lundin Mining as at the date of this document in light of management's experience and perception of current conditions and expected developments, such information is inherently subject to significant business, economic, political, regulatory and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking information and undue reliance should not be placed on such information. Such factors include, but are not limited to: dependence on international market prices and demand for the metals that the Company produces; political, economic, and regulatory uncertainty in operating jurisdictions, including but not limited to those related to permitting and approvals, nationalization or expropriation without fair compensation, environmental and tailings management, labour, trade relations, and transportation; operating jurisdictions, including but not limited to those related to permitting and approvals, nationalization or expropriation without fair compensation, environmental and tailings management, labour, trade relations, and transportation; risks relating to mine closure and reclamation obligations; health and safety hazards; inherent risks of mining, not all of which related risk events are insurable; risks relating to tailings and waste management facilities; risks relating to the Company's indebtedness; challenges and conflicts that may arise in partnerships and joint operations; risks relating to development projects, including Filo del Sol and Josemaria; risks that revenue may be significantly impacted in the event of any production stoppages or reputational damage in Chile; the impact of global financial conditions, market volatility and inflation; business interruptions caused by critical infrastructure failures; challenges of effective water management; exposure to greater foreign exchange and capital controls, as well as political, social and economic risks as a result of the Company's operation in emerging markets; risks relating to stakeholder opposition to continued operation, further development, or new development of the Company's projects and mines; any breach or failure information systems; risks relating to reliance on estimates of future production; risks relating to litigation and administrative proceedings which the Company may be subject to from time to time; risks relating to acquisitions or business arrangements; risks relating to competition in the industry; failure to comply with existing or new laws or changes in laws; challenges or defects in title or termination of mining or exploitation concessions; the exclusive jurisdiction of foreign courts; the outbreak of infectious diseases or viruses; risks relating to taxation changes; receipt of and ability to maintain all permits that are required for operation; minor elements contained in concentrate products; changes in the relationship with its employees and contractors; the Company's Mineral Reserves and Mineral Resources which are estimates only; uncertainties relating to inferred Mineral Resources being converted into Measured or Indicated Mineral Resources; payment of dividends in the future; compliance with environmental, health and safety laws and regulations, including changes to such laws or regulations; interests of significant shareholders of the Company; asset values being subject to impairment charges; potential for conflicts of interest and public association with other Lundin Group companies or entities; activist shareholders and proxy solicitation firms; risks associated with climate change; the Company's common shares being subject to dilution; ability to attract and retain highly skilled employees; reliance on key personnel and reporting and oversight systems; risks relating to the Company's internal controls; counterparty and customer concentration risk; risks associated with the use of derivatives; exchange rate fluctuations; the terms of the contingent payments in respect of the completion of the sale of the Company's European assets and expectations related thereto; the earn-in arrangement in respect of the Boulderdash properties, including the entering into of an option agreement in respect thereof and the terms of such option agreement; future actions taken by Talon Metals Corp. and Lundin Mining in relation to the Boulderdash properties and the outcomes and anticipated benefits thereof; and other risks and uncertainties, including but not limited to those described in the "Risks and Uncertainties" section of the Company's MD&A for the three months ended March 31, 2025, the "Risks and Uncertainties" section of the Company's MD&A for the year ended December 31, 2024, and the "Risks and Uncertainties" section of the Company's Annual Information Form for the year ended December 31, 2024, which are available on SEDAR+ at under the Company's profile. All of the forward-looking information in this document is qualified by these cautionary statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, forecasted or intended and readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information. Accordingly, there can be no assurance that forward-looking information will prove to be accurate and forward-looking information is not a guarantee of future performance. Readers are advised not to place undue reliance on forward-looking information. The forward-looking information contained herein speaks only as of the date of this document. The Company disclaims any intention or obligation to update or revise forward–looking information or to explain any material difference between such and subsequent actual events, except as required by applicable law. _________________________________ 1 This is a non-GAAP measure. For more information and equivalent historical non-GAAP financial measure comparatives, see the Historical Non-GAAP Measure Comparatives section of this press release. Please also see the Management's Discussion and Analysis for the year ended December 31, 2024 and the three months ended March 31, 2025. 2 Adjusted free cash flow from operations is a non-GAAP measure that adjusts free cash flow from operations to exclude changes in working capital items. For more information and a reconciliation to historical comparatives of free cash flow, see the Historical Non-GAAP Measure Comparatives section of this press release. Please also see the Management's Discussion and Analysis for the year ended December 31, 2024 and the three months ended March 31, 2025. 3 Lundin Mining's five-year financial outlook is indicative in nature and subject to change. The indicative five-year financial outlook is based on long-term commodity prices of $4.50/lb Cu, $2,500/oz Au and $30.00/oz Ag and a USD/CLP FX rate of 900 and USD/BRL 5.50; Lundin Mining's Mineral Resources and Mineral Reserves, geological formations, grade and continuity of deposits and metallurgical characteristics, the results of the Company's annual life of mine planning process, current operating asset portfolio and sustaining projects in progress. The indicative five-year financial outlook is based on various other assumptions, including the step down of the Company's gold streaming agreement at Candelaria from 60% to 40% at the end of 2026 or early 2027, and that no significant event will occur outside of Lundin Mining's normal course of business and operations (other than as expressly set out herein) and that the Company will continue to be able to convert Mineral Resources into Mineral Reserves, among others. Lundin Mining's growth initiatives described in this press release, additional asset optimization, further exploration growth, new project initiatives and divestitures are not included. 4 This is a non-GAAP measure. For more information and equivalent historical non-GAAP financial measure comparatives, see the Historical Non-GAAP Measure Comparatives section of this press release. Please also see the Management's Discussion and Analysis for the year ended December 31, 2024 and the three months ended March 31, 2025. 5 Sustaining capital is a supplementary financial measure, and expansionary capital expenditure is a non-GAAP measure. For more information and equivalent historical non-GAAP financial measure comparatives, see the Historical Non-GAAP Measure Comparatives section of this press release. Please also see the Management's Discussion and Analysis for the year ended December 31, 2024, and the three months ended March 31, 2025.
CTV News
an hour ago
- CTV News
CTV National News: The politics at play without Trump at the G7 Summit
Watch Mike Le Couteur has the latest on how the unexpected absence of U.S. President Trump on the final day of the G7 changed the discourse between world leaders.
CTV News
an hour ago
- CTV News
CTV National News: Anger among Canadian Sikhs over Modi's presence at the G7
A group of Sikh activists rallied for a second day in Calgary to protest the presence of Indian Prime Minister Narendra Modi at the G7. Kathy Le reports.
